đ Why ethereum is suddenly beating bitcoin
The world's most popular crypto is being outdone by its second closest competitor in recent weeks.
Ethereum is up about 54% over the last month, ahead of bitcoin's 10% gain.
Here's what's behind the rally in the world's second-largest cryptocurrency.
The Ether Machine, another crypto treasury firm, said on Wednesday that its total ethereum holdings had climbed to $56.9 million.
"Those vehicles are out there buying ethereum. And so that could also be additional buy-pressure that's moving up the price," Shapiro said.
Shapiro isn't certain that the momentum will last for ethereum. He believes much of the hype for the coin in recent weeks has to do with excitement and uncertainty over ethereum's potential catalysts.
The crypto's rally could lose steam once more regulatory details are solidified, he said. He pointed in particular to the CLARITY Act, the crypto market structure bill that's awaiting approval in Congress.
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